The Romanian-French consortium made up of Aster Capital Partners (France), Iceberg+, and Venture Booster has launched Asternova Vest, a regional venture capital fund with a target size of EUR 37 million, dedicated to startups and technology companies in Romania's West Region.

The fund is being launched with a commitment of more than EUR 26 million from the West Region Development Agency (ADR Vest), acting as the anchor investor through the West Regional Program.

The fund will be managed by Aster Capital Partners, which has been authorized by France's Autorité des Marchés Financiers (AMF) since 2002. Aster has more than 25 years of venture capital experience, with approximately EUR 600 million under management across eight funds and a portfolio of nearly 100 funded companies.

Asternova Vest aims to invest in more than 18 companies at the Seed and Series A stages, with tickets ranging from EUR 500,000 to EUR 4 million.

The fund will pursue investment opportunities in companies operating in sectors such as software, artificial intelligence, advanced manufacturing, energy, mobility, healthcare, and other industries “with strong innovation and scaling potential.” The investments will primarily target companies based in the counties of Timiș, Arad, Hunedoara, and Caraș-Severin, as well as startups that choose to establish and grow their operations in the region.

In recent years, Romania's West Region has produced companies such as Imobiliare.ro, Movidius, Tazz, and 123FormBuilder, which “have demonstrated the ability of local entrepreneurs to build products and businesses that compete on the global stage,” the fund’s representatives explained.

At the same time, most Romanian startups continue to scale without access to growth capital, and the funding gap between angel and pre-seed rounds and Series A financing remains one of the ecosystem's biggest challenges. “Asternova Vest aims to help bridge this gap by providing growth capital to companies that have moved beyond the validation stage and are ready to accelerate their expansion.”

The fund’s executive team is based in Timișoara. It includes Ionuț Țața, as general partner – investor relations & business development, founder and CEO of Iceberg+, who brings more than 15 years of experience in innovation financing and the development of venture capital instruments; Ioana Ștefănuț, general partner – due diligence & compliance, co-founder of Venture Booster, who has more than 20 years of experience in international corporate banking, including at BNP Paribas in Paris; and Adrian Gheorghe, partner – startup ventures, founder of Doers Movement and co-founder of Growceanu. The fund will also benefit from the expertise of Jean-Marc Bally, representing Aster Capital Partners, and Traian Urban, representing EIT Urban Mobility.

"With ADR Vest's participation as anchor investor, Asternova Vest proposes a model that Romania's entrepreneurial ecosystem has long been waiting for: a fund designed to help transform promising startups from the West Region into companies capable of competing at a European level. The development of our portfolio companies and the investors’ returns are not competing but complementary objectives. By combining local expertise with the international experience and investment discipline of Aster Capital Partners, the fund is built on the alignment of interests between founders, investors, and the region's long-term economic development," said Ionuț Țața, general partner at Asternova Vest and founder of Iceberg+.

"At Aster Capital Partners, we have been investing in innovation-driven companies across Europe for more than two decades. Asternova Vest reflects our belief that Romania’s West Region is emerging as one of the most promising technology hubs on the continent. By combining capital with strategic support, we aim to help entrepreneurs accelerate their growth, attract international opportunities, and build businesses capable of competing on a global scale," said Jean-Marc Bally, managing partner at Aster Capital Partners.

(Pictured left to right: Jean-Marc Bally, Ionuț Țața, Sorin Maxim. Photo by Asternova Vest)

simona@romania-insider.com